'A complete joke': Laid-off Sears workers say hardship fund cash amounts to nothing after EI cut + MORE Oct 10th

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Bring back the $10,000 TFSA

– moneysense.ca

Bring back the $10,000 TFSA(Getty Images)
For those who pay attention to what politicians are up to on taxes, consider that since 2015, the focus has mostly been on raising them. From Atlantic Canada to Alberta, British Columbia and federally, new brackets were invented and other rates raised; in addition, new and higher taxes are yet to come including a federal carbon tax.
Even the new Progressive Conservative government of Brian Pallister in Manitoba, elected last year on opposition to a sales tax increase by the previous government, is toying with new taxes, including a carbon tax and higher taxes on insurance products.
One rare exception to this flurry of higher tax activity was in 2016 when the federal government dropped the rate for one middle income bracket, to 20.5 per cent from 22 per cent.
Middle-class Canada takes a hit
Regrettably, as the Fraser Institute discovered last week, that change wasn’t enough to offset the removal of many boutique tax credits. The net result was that 81 per cent of middle class taxpayers saw their taxes rise, and on average pay $840 more annually…

Continue Reading On moneysense.ca »

Laid-off Sears Canada workers say the hardship fund set up to help them is pointless because any payout counts as income and is deducted from their employment insurance benefits.

Continue Reading On cbc.ca »


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